EFE Securities •

3 years ago •

Market Commentary

Market Comment- 23.03.2021

The ZSE scratched marginal gains as the primary All Share Index closed 0.08% up at 4141.96pts in Tuesday’s session. Resurgent demand in heavies mainly Delta, at the close of the session was fruitless to turn the Top Ten Index into the black, ending in the red after a 0.10% slump that took it to 2347.16pts. The Minings were 1.69% firmer at 5809.82pts with the Industrials adding 0.05% and settling at 13829.01pts. Mining House RioZim topped the gainers of the day on a 20% surge as it closed at $20.40000 while, Zimpapers followed on a 14.58% rise to $1.7400. ZHL was 5.88% firmer at $2.0333 albeit on scrappy shares. Banking group NMB was 5.34% firmer at $7.9006 while, Simbisa brands added 3.66% to $27.9870, post the release of it H1FY21 results in which management reported a profit after tax of $891.3m which was up 902% from comparable period in historical cost terms. Other gains across the board were registered in Padenga +1.33%, Innscor +0.47% and Econet +0.58%. Contrastingly, a negative market breadth was recorded after sixteen counters traded in the negative territory against thirteen that went up, as nine remained unchanged. Hotelier Afsun led the losers list after a 12.59% drop that took it to $1.7292. General Beltings was 10.47% down at $0.5002 while, Mashonaland Holdings retreated 7.58% to $1.8414 as demand continued to wane in the property counter. Life assurer Fidelity dropped a further 6.99% to $5.2083 with RTG easing 5% to $1.9000 as a chunk of 2.2m shares exchanged hands at that level. Activity aggregates were mixed as volumes traded rose 36.41% to 5.34m shares while, turnover went down 6.88% on yesterday. Delta and Innscor anchored the day’s turnover, claiming 47.21% and 25.22% of the total. Foreign purchases accounted for 18.14% of the turnover while, disposals claimed 55.10% of the same.